What is the CCMA?

The Code of Conduct for Mortgage Arrears (known as “the Code” or “the CCMA”) helps people who are under pressure meeting their mortgage payments.

The Code is designed to make sure that banks deal with individual cases sympathetically.  It guarantees time and space to work things out. It encourages lenders and borrowers to work together to protect the family home at a repayment level that is affordable.

How might the Code help you?

The Code helps anyone at risk of missing a mortgage payment. You don’t have to have actually missed a payment to get the protection of the Code. If you contact your bank and let them know you are experiencing difficulties, you will be protected from that point onwards.

If you miss a payment by more than 30 days, you automatically fall under the protection of the Code.

If you’re uncomfortable dealing directly with your bank, you are entitled to have a third party contact them on your behalf (e.g. an independent financial advisor such as getSorted or an accountant)

What will the bank do next?

Banks must follow a standard procedure known as the Mortgage Arrears Resolution Process (MARP) with every customer who is protected by the Code

  • You get time and space to work things out
  • They must follow an industry standard assessment process & look for standardised information from you
  • They must work sympathetically and look to find a solution that meets your individual circumstances
  • There are restrictions placed on the number of times that the bank can call or write to you while you are working through the MARP process with them
  • You will be given time to seek advice and consider any options offered

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